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Hey, its the Tax Man!

Got big plans for your tax refund?

  • Hells yeah! We're doing something fun with it!

    Votes: 2 9.5%
  • Of course, we're doing something responsible with it.

    Votes: 7 33.3%
  • Yep - something fun and something responsible.

    Votes: 6 28.6%
  • Oh shut your pie hole. We owe this year.

    Votes: 6 28.6%

  • Total voters
    21
Messages
3,690
Points
27
Yay! We met with our accountant last week and figured out what our return is going to be! Woo hoo! So we went on a huge retail therapy expedition on Sunday. Here's where we're at so far:
Paid off new computer
Ordered area rugs for our livingroom and bedroom
new, MATCHING, towels and washclothes for guests
SIM CITY 4 (Wahoo!)
new scanner
cd label maker softward
and dropping a chunk of change on our student loans.

So what is everyone else doing with their gov't windfalls? If you're getting one, that is.
 

Jen

Cyburbian
Messages
1,704
Points
25
Hot dang good choices there, new towels AND rugs!

Our refund was absorbed into the general fund, but funny how a new cam and exhaust from neuspeed appears this week hmmm...

i think i need to speak to the old man bout new wheels for Jens car.
 

nerudite

Cyburbian
Messages
6,544
Points
30
I'm going to owe to the Canadian government and will be getting back a modest sum from the US. Overall, I'll still owe about $1000 CDN. Stupid taxes.
 

donk

Cyburbian
Messages
6,970
Points
30
My tax refund will be used for a spring tune up for my bikes (new MTB shoes, new MTB pedals, new chains, cassettes/chainrings, new rear rim for road bike) and to finish some of the renovations on my house.

Anything left over will go towards short term debt relief.
 

jmf

Cyburbian
Messages
594
Points
17
Practical - paying back some money to my parents and putting money into my RRSP for next year

Fun - I am going to Toronto this weekend, only 3 sleeps left!!!!!!!!!
 

PlannerGirl

Cyburbian Plus
Messages
6,377
Points
29
not getting back much but its better than having to pay more to our fav uncle eh?

Me, i plan to use if for new car. My lease is up in june and im hunting around for 1) another lease deal 2) a great price on buying a car or 3) keeping the car i have

i love my car but i need someting with more puppy room and more zip to get out on 66 and 395 with out getting crunched.

we shall see
 

giff57

Corn Burning Fool
Staff member
Moderator
Messages
5,401
Points
32
Mine all goes for child support so my ex can continue her non working welfare drawing existance.
 

Tranplanner

maudit anglais
Messages
7,903
Points
35
I did our taxes on the weekend (we get an extra two weeks over the U.S. folks). As I told my wife "this marriage thing isn't as big a tax-dodge as I thought it would be".

We're getting some back - probably use it to help pay for our trip to the UK in May.
 

Cardinal

Cyburbian
Messages
10,080
Points
34
It seems to be about the same thing every year. I end up owing the state a couple hundred, but get it back from the federal tax. Or vice versa. Even when the net is positive, there really isn't much there to do anything with. I suppose it will go into the home-buying account.
 

OhioPlanner

Cyburbian
Messages
304
Points
11
We are going to buy a treadmill. Then the remainder is going towards our European vacation this summer.

We are getting a really nice return. It's the first year we have owned a house and the tax savings are tremendous.
 
Messages
3,690
Points
27
Tranplanner said:
As I told my wife "this marriage thing isn't as big a tax-dodge as I thought it would be".
Did the "Marriage Penalty" ever get repealed in the US?

We were definitely helped out by being able to deduct our student loan interest (you can deduct up to $2500), and our first full year of mortgage payments. Plus, we claim single zero. My mom can't understand why we don't make any deductions, but really I feel like it is found money, and right now, it would earn what, .8% in a savings account, if we even got around to putting the extra $$ in each paycheck away?
 

el Guapo

Capitalist
Messages
5,984
Points
29
We pay at least $2K every year over what is withheld so that , among other things, others may have babies they can't support and PBS can tell me what a bad person I am for not being one of them.

Total local, state & federal tax bill for me and the misses (not counting sales taxes, but including our all federal deductions and payroll taxes) last year was $34,000. Think that is high? Thus El Guapo renews his vows of conservatisim.
 

Repo Man

Cyburbian
Messages
2,550
Points
25
I used a portion of mine for some new home stereo speakers, a 120gb hard drive, and a network router. The remainder of it is in savings.
 

Cardinal

Cyburbian
Messages
10,080
Points
34
El Guapo said:
We pay at least $2K every year over what is withheld so that , among other things, others may have babies they can't support and PBS can tell me what a bad person I am for not being one of them.

Total local, state & federal tax bill for me and the misses (not counting sales taxes, but including our all federal deductions and payroll taxes) last year was $34,000. Think that is high? Thus El Guapo renews his vows of conservatisim.
I'm right there with you. Although I don't really mind PBS, there are far too many things our government spends our money on, to which I do object. It certainly does tick me off that there are so many people just getting hand-outs. (There's a conservative line!) I tend to favor the Democrat's idea of a tax cut, though. Lower the taxes on income earned by working people, not the dividends paid on stocks.
 

Habanero

Cyburbian
Messages
3,241
Points
27
I hope I don't owe, I have to have someone do my taxes thsi year though, since AZ has state income tax, TX didn't, and I made money in both states.. plus the cost of the move for the job and other decdutables. Ick, it's going to be iffy.. cross your fingers!
 
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Mud Princess

Cyburbian
Messages
4,896
Points
27
Last year, we owed a bundle. I would have been happy with a $5 refund this year -- anything would've been better than the disappointment of having to pay.

As it turned out, we're getting a lot back. Our tax advisor was thrilled to give us the good news. The first thing we did was go out to the local brewpub to celebrate!

We'll spend some of the money on our vacation and some on landscaping the yard. Of course my husband has to buy himself a new toy. He has no will power!
 
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